JKB Financial Services Ltd.

As on : 16-Jan-2024

Market Commentary - Pre-Session
16-Jan-2024 08:48

Weak opening on the cards

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could slide 55 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Tuesday, with Japanese stocks also halting their record-breaking rally since the start of the year.

U.S. markets were closed Monday due to the Martin Luther King holiday. Investors are looking ahead to U.S. December retail sales data out Wednesday.

Domestic markets:

Back home, the stock market continued its upward trajectory on Monday, rising for the fifth trading session. The barometer index, the S&P BSE Sensex jumped 759.49 points or 1.05% to 73,327.94. The Nifty 50 index added 202.90 points or 0.93% to 22,097.45.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,085.72 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 820.69 crore in the Indian equity market on 15 January, provisional data showed.

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